One popular technique for competing in the marketplace is to identify blue oceans. The concept of blue oceans was introduced in 2005 with the very successful book, Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant, written by Kim Chan and Renee Mauborgne. The text is available in the PG Library.
Read the article, “Application of the Ocean Blue Strategy in Ukrainian Winemaking Industry” (Didukh & Aiun, 2019).
After reading the article, respond to the following questions:
How would you describe the concepts of the blue ocean strategy?
What steps are involved in identifying blue oceans?
How would you apply a blue ocean strategy to a similar industry like beer or soda?
Reference
Didukh, S., & Aoun, V. (2019). Application of the blue ocean strategy in Ukrainian winemaking industry. Food Industry Economics, 11(1), 49–58.
